Average price of regular slips again in Philly market

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The slow and steady decline in the average price of regular in the Philadelphia market continues, now in its 12th week.

The past week showed a dip of 2.1 cents per gallon to $3.16, according to GasBuddy's survey of 979 stations in the market.

That's 16.2 cents per gallon lower than a month ago and 60.5 cents lower than a year ago.

GasBuddy says the the cheapest station was $2.88, up 17 cents, while the most expensive remained at $4.16, a difference of $1.28. That $4.16 is also the highest price in the state, according to GasBuddy.

Though the bottom end increased substantially enough stations must have lowered their prices enough to cause the overall decline.

In any case, what are you paying?

Check the locator at www.gasbuddy.com/gasprices/pennsylvania/philadelphia and find the best deal in your area.

That $3.16 per gallon is the fifth-highest price for an Oct. 7 in the past 11, GasBuddy says. But — glass half-full perspective — it is the cheapest since Oct. 7, 2020.

Across the bridges in New Jersey, there was a similar downturn, with the average off 2.3 cents to $2.94 per gallon.

In Wilmington, the average was up the same amount to $3.17 per gallon. That came on the heels of a 17-cent increase the week before. It's rare that the Philadelphia market average is less than the Wilmington average.

The national average price of gasoline was down 4.6 cents per gallon in the past week to $3.13.

The national average is down 11.6 cents per gallon from a month ago and 56.2 cents lower than a year ago, according to GasBuddy data.

The national average price of diesel was unchanged from a week ago at $3.54 per gallon.

The GasBuddy guru says the party might be over, for a bit.

"While the national average dipped slightly in the last week, Iran's attack on Israel has at least temporarily caused oil prices to surge to the highest level in months, which could cause the declines to cease for now and could lead to a rise in gas prices for many Americans," said Patrick De Haan, head of petroleum analysis at GasBuddy. "In addition to the escalation in the Middle East, hurricane season remains active, with Hurricane Milton now heading toward a likely landfall in Florida. As a result of potential evacuations, GasBuddy's Fuel Availability tracker will remain online for areas likely to be affected by Milton. For now, motorists in most areas can expect to see more increases in gas prices primarily due to tensions in the Middle East, but I remain hopeful that a $2.99 national average remains possible this fall."